If you're comfortable with "jobless recoveries" then you can have "considerable economic growth" while a large number of people experience considerable economic pain. Stagflation was not about stagnation in economic growth but about high inflation with high unemployment.

I am not sure, but wasn't unemployment too lower in the seventies compared to the eighties? Wasn't the term jobless recovery invented in 1991?
Anyway there was no permanent ten year crisis in the seventies.